The United States Department of Justice (DOJ) has announced an agreement to repatriate approximately $52.88 million in seized assets to Nigeria, following a corruption investigation involving former Nigerian Petroleum Minister Diezani Alison-Madueke and her associates. The funds, linked to money laundering and bribery, were forfeited under the US Kleptocracy Asset Recovery Initiative.
The majority of the returned funds, $50 million, will be allocated to Nigeria’s Distributed Access Through Renewable Energy Scale-Up (DARES) project. This initiative, managed by Nigeria’s Rural Electrification Agency and supported by the International Development Association, aims to expand renewable energy access across the country, particularly for public institutions. The remaining $2.88 million will go toward supporting Nigeria’s contribution to the International Institute for Justice and the Rule of Law (IIJ).
The funds are to be managed with strict oversight, with the World Bank overseeing the $50 million set aside for electrification, ensuring transparency and accountability through regular audits and public reporting. The IIJ portion will also undergo similar auditing processes.
The agreement was signed in Abuja by US Ambassador Richard M. Mills Jr. and Nigerian Attorney General Lateef O. Fagbemi, reaffirming both nations’ commitment to responsible governance. The seized assets stem from a conspiracy involving Nigerian businessmen who bribed Alison-Madueke to secure lucrative oil contracts. The proceeds from these illegal activities were used to purchase luxury items, including real estate and a superyacht.
US and Nigerian authorities collaborated closely throughout the investigation, with Nigerian officials playing a crucial role in the successful recovery of the funds. FBI Assistant Director Chad Yarbrough emphasized the importance of repatriating the funds for use in critical national development and counterterrorism efforts, while also reinforcing the US commitment to combating corruption globally.
